Business Fundamentals®

Get simple and convenient banking and checking options for your small business.

If you are a smaller business with basic banking needs, Business Fundamentals® is ideal. This simple checking solution offers convenient access to thousands of ATMs and banking centers and is rated #1 for Small Business Online Banking.footnote* Plus, you can access your account anytime, anywhere, from a computer, tablet or smartphone with Online and Mobile Banking.footnote1

With Business Fundamentals you will get:

A Business Investment savings account with no additional monthly fee

No monthly fee when you make new qualifying purchases of at least $250 on your linked Bank of America business debit or credit cardfootnote2

A business employee debit card with detailed record keeping and expense tracking to allow your employees to make purchases for you

No monthly fee for the first two months. See details on how to avoid the monthly fee.

What to expect after applying

When your application is complete, you will receive a confirmation email within a couple of hours.

You will need to send in the business documentation used in your application for your business type.

After your account is approved, you must send a signature card through traditional mail or take the card to a local banking center.

You can fund your account while applying, by using your debit card, transferring money from another account or writing a check at a banking center.

Once your account is open, you can use Online Banking immediately, and you will receive your checks and debit cards in 7 to 10 business days.

*Rated #1 for Small Business Online Banking by the 2014 Keynote Small Business Scorecard

1Mobile banking requires enrollment through the Mobile App, Mobile Web or Online Banking. View the Online Banking Service Agreementopens in a new window. for more information. Data connection required. Wireless carrier fees may apply. Enrollment not available through the Mobile App on all devices.

2Use a linked Bank of America business debit card, business credit card or business charge card to make at least $250 in net new purchases each statement/billing cycle and Bank of America will waive the monthly fee on your Business Fundamentals account. In addition to the primary business debit, credit or charge card, linked employee cards also count toward the monthly spend threshold. Credit or charge card spend is evaluated at the end of your Business Fundamentals account statement cycle, and the assessment of whether you met the spend threshold is based on the immediately preceding completed billing cycle of the credit/charge card account. For example, if your credit/charge card account cycles early in the month and your checking account cycles late in the month, qualifying credit or charge card purchases made in early March would be counted towards waiving your April checking monthly fee. Purchases must be made on only one of either the debit, the credit or the charge card accounts; purchases on any combination of cards cannot be combined to reach the monthly spend threshold. The following transactions do not qualify: a) ATM transactions; b) refunds, returns or other adjustments; c) cash advances or purchases of cash-like items, such as money orders, traveler's cheques, foreign currency, cashier's checks, gaming chips, and other similar instruments and things of value; d) account funding transactions, including transfers to open or fund deposits, escrow or brokerage accounts and purchase of stored value cards. NOTE: The waiver applies only when the owner of the Business Fundamentals account and the owner of the linked product share the same Taxpayer Identification Number (TIN). Purchases must post to your account to qualify.

3Eligible business accounts include Business Fundamentals, Business Interest Checking, Business Interest Maximizer™ Savings, Platinum Business Interest Maximizer™ Savings, Business Investment Account Savings, and Business CD accounts.